Power Today |
 
Advertise Here [728 W x 90 H pixels]
Web Exclusive | September 2016

EESL raises domestic bonds to fund energy efficiency projects in India

Energy Efficiency Services Limited has made its maiden issuance of bonds in the domestic market to fund energy efficiency projects in India. Domestic bonds worth Rs 500 crore were issued to investors on private placement basis at a coupon rate of 8.07 per cent per annum. These bonds have been rated AA by ICRA and CARE. The maturity of the bonds range from 3.5-7 years on STRPP basis.  Meanwhile, Trust Investment Advisors is the sole arranger of the issue. The bonds are proposed to be listed in WDM segment of the Bombay Stock Exchange. The issuance has been fully subscribed showcasing the faith investors have in the energy efficiency business of the company. The access to Indian bond markets will be a key milestone for EESL to channelise more investments in the energy efficiency market. For FY 2016-17, the capex requirement of EESL is Rs 3,500 crore. Aiding this requirement, these corporate bonds will be the first of many tranches. EESL is also planning to introduce Green Masala Bonds worth $100 million (approx. Rs 700 crore) in November. The company has also tied up funding from multi-lateral agencies like KFW, AFD and ADB for funding its energy efficient projects. Saurabh Kumar, Managing Director, EESL said, “Our requirements from the markets is quite high; however, we are confident of a great response from investors looking at our unique model.”

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image

 

Posted Comment
1 .     Yogesh Says:
17 Oct 2016
I wish to start pvc / pp electric wire unit in Delhi. What kind of information I can get if I subscribe for your magazine

2 .     Sarfaraj Bilakhiya Says:
20 Sep 2016
Pls invite me all auction in gujarat

3 .     k.natarajan Says:
20 Jun 2016
we are doing business developing for solar power ,thermal power , customer supporting and we have 45 mw splar power on hand needs investors..... thanks lot pls call +910842559230 +919842753550


Advertise Here [728 W x 90 H pixels]